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As if everyone’s budgets haven’t taken enough of a hit in these tough economic times, now sales taxes are creeping up across the country. Apparently, states and local governments feel it’s appropriate to prop up their budgets by depleting ours!
The average sales tax rate in the U.S. had risen to 8.629% by the end of 2009. The highest rate in the nation is in Arab, Alabama at 12%. The highest big-city rate is Chicago’s, which has climbed to a staggering 10.25%.
The increased sales tax rates certainly can’t be helping to revive an already shaky economy. In many areas, the taxes are multi-layered with the state, counties and local municipalities all taking a big bite!
Annie: This is ridiculous! As if the bad economy wasn’t enough, now all these government entities are making it even worse on us!
Charlie: The government’s always going to get “theirs”, even if it is really yours!
Annie: They’re almost as bad as the credit card companies! How are we girls supposed to build our spring wardrobes if we can’t afford the sales tax?
Charlie: These government chumps don’t seem to realize that they get diminishing returns by raising taxes because they erode everybody’s buying power so there are fewer sales to collect taxes on!
Annie: I think they think nobody notices sales taxes and they’ll buy whatever they’re going to buy anyway.
Charlie: Oh, people are going to notice when the taxes get into double-digit percentages!
Annie: I guess we’re going to just have to cut back even more than we already were.
Charlie: Funny, you never hear politicians talking about making serious cuts to THEIR budgets; they only ever seem to want to raise OUR taxes and hammer OUR budgets!
Annie: Maybe we need to make sure they feel the budget bite by making all the incumbents unemployed when the next election comes around!
Charlie: I hear you, sister.
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Related Reading: Increasing Sales Taxes
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